Travelers Sues Chicago Investment Bank Over Bondholder Litigation

A Travelers Cos. unit is again suing Chicago investment bank Ziegler over directors and officers insurance coverage for bondholder litigation after tossing a previous case.

Various claims against Ziegler by investors in bonds issued to finance the development of a sports complex aren’t covered by the bank’s insurance policy, Travelers Casualty & Surety Co. of America said in a Wednesday complaint filed in the US District Court for the Northern District of Illinois.

The insurer dropped its previous suit in August 2024 pursuant to a standstill and non-waiver agreement, which it terminated in July, according to the latest complaint.

Ziegler ...